A Study of the Austrian Labour Makret Dynamics Using a Model of Search Equilibrium
Beschreibung
vor 21 Jahren
In this work we provide a theoretical overview of a search
equilibrium model with continuous productivity dispersion and
perform its estimation for the Austrian data. We describe
empirically the dynamics of market equilibrium outcomes. Special
emphasis is made on the analysis of changes in labour mobility and
dependence of expected job durations on offered wages. We
investigate the influence of excessive labour mobility on the
equilibrium profits of firms. Facing a problem of top-coded wage
data, we suggest an appropriate adjustment of the existing
estimation methodology. Finally, we extend the econometric model
for the observed heterogeneity of agents.
equilibrium model with continuous productivity dispersion and
perform its estimation for the Austrian data. We describe
empirically the dynamics of market equilibrium outcomes. Special
emphasis is made on the analysis of changes in labour mobility and
dependence of expected job durations on offered wages. We
investigate the influence of excessive labour mobility on the
equilibrium profits of firms. Facing a problem of top-coded wage
data, we suggest an appropriate adjustment of the existing
estimation methodology. Finally, we extend the econometric model
for the observed heterogeneity of agents.
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